Jamestown, a global real estate investment and management firm with a 39-year track record and of an estimated USD13 billion in assets under management as of June 30, 2022, and Simon, a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment, and mixed-use destinations, recently announced a strategic partnership, currently anticipated to close prior to the end of 2022, subject to regulatory approvals and other customary closing conditions.
Upon closing, Simon will reportedly acquire a 50 percent interest in Jamestown from founding partners Christoph and Ute Kahl, who will continue to be Jamestown shareholders. Jamestown will operate independently and continue to be led by CEO Matt Bronfman and President Michael Phillips, who will retain their existing ownership. Christoph will transition from day-to-day involvement as the company’s Chairman to a member of the new Jamestown Board of Directors.
As per the source, the partnership will unlock new value creation opportunities and create a platform for future growth in the investment management sector. With Simon, Jamestown will gain a partner with a deep platform of resources and operational tools that will enhance the firm’s ability to scale and grow. With Jamestown, Simon will gain an opportunity to capitalize on the growing asset and investment management businesses with an experienced fund manager and mixed-use operator and developer, utilizing the Jamestown platform to accelerate Simon’s future densification projects.
“At Jamestown, our goal is to be the best mixed-use investor globally, focusing on creating innovation hubs and community centers,” said Michael Phillips, President of Jamestown. “The partnership with Simon will help us achieve that goal and position us for our next chapter as we scale our differentiated products in an increasingly global world.”
“We have been impressed with Jamestown’s combination of sector expertise, dedication to driving creative placemaking, and reputation in the fund management business,” said David Simon, Chairman, CEO, and President of Simon. “Their strong leadership team and track record align with our focus on investing in best-in-class partners. Jamestown is well-positioned for future growth, and we are excited about the continued expansion of Simon’s investment platform.”
“For nearly four decades, Jamestown has strategically managed its portfolio, employing technology, innovation, and design-focused placemaking to create value for investors,” said Matt Bronfman, CEO of Jamestown. “This partnership will position Jamestown’s long-standing management team to continue the firm’s success story.”